UBS names new chief risk officer

by Richard Kilner

Story link: UBS names new chief risk officer

Investment bank UBS has announced the appointment of Philip Lofts as the new group chief risk officer with immediate effect.

Lofts is also given a seat on the Group Executive Board and replaces Joseph Scoby who returns to his prior post as global head of Alternative and Quantitative Investments (A&Q).

Lofts has a plethora of experience with the firm, having worked for UBS for over 20 years. His most recent posts were as deputy group chief risk officer and group risk chief operating officer.

He has extensive knowledge and experience of risk, and has held senior risk positions across the world, in Europe, the US and Asia-Pacific.

Marcel Rohner, CEO, has described Lofts as extremely qualified for his new post, citing his enormous experience in the field of risk.

Rohner also paid tribute to Scoby’s time in the role of group chief risk officer, which he held for over a year.